NVIDIA Stock Pops Higher Following Inflation Data: The Bull, Bear Case For The Chipmaker
Portfolio Pulse from Melanie Schaffer
NVIDIA Corporation's stock rose by about 2% on Friday following the release of core Personal Consumption Expenditure data. However, the company is under investigation by French officials for potential anticompetitive practices. Technical indicators suggest a retracement could be on the horizon. The AXS 1.25x NVDA Bear Daily ETF (NVDS), which tracks 125% of the opposite daily performance of NVDA, offers a way to play Nvidia bearishly.
September 29, 2023 | 4:57 pm
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POSITIVE IMPACT
The AXS 1.25x NVDA Bear Daily ETF (NVDS) offers a way to play Nvidia bearishly.
The NVDS ETF, which tracks 125% of the opposite daily performance of NVDA, offers a way to play Nvidia bearishly. This could benefit the ETF if NVIDIA's stock retraces.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NVIDIA's stock rose but faces potential retracement due to regulatory scrutiny and technical indicators.
NVIDIA's stock rose following the release of economic data, but the company is under regulatory scrutiny and technical indicators suggest a potential retracement. This could negatively impact the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100